Denison Mine (NYSEAMERICAN:DNN) Shares Up 6.7% - Here's Why

Key Points

• Denison Mine Corp's stock experienced a significant increase of 6.7%, trading at $3.02 after reaching a prior close of $2.83, despite a notable decline in trading volume.
• Multiple brokerages have recently upgraded Denison Mine's shares, with five analysts giving it a consensus rating of "Buy" and an average price target of $2.75.
• Institutional investors currently hold about 36.74% of Denison Mine's stock, with several firms recently increasing their stakes in the company.

Denison Mine Corp (NYSEAMERICAN:DNN - Get Free Report) TSE: DML's stock price shot up 6.7% during trading on Friday . The company traded as high as $3.02 and last traded at $3.02. 17,704,857 shares changed hands during mid-day trading, a decline of 78% from the average session volume of 79,399,266 shares. The stock had previously closed at $2.83.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on DNN. Desjardins upgraded shares of Denison Mine to a "moderate buy" rating in a research report on Monday, August 18th. Scotiabank reiterated an "outperform" rating on shares of Denison Mine in a research report on Thursday, August 7th. TD Securities reiterated a "buy" rating on shares of Denison Mine in a research report on Monday, August 11th. National Bankshares restated an "outperform" rating on shares of Denison Mine in a report on Monday, August 18th. Finally, Raymond James Financial restated an "outperform" rating on shares of Denison Mine in a report on Friday. Five research analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the stock currently has a consensus rating of "Buy" and an average price target of $2.75.

Denison Mine Stock Up 6.5%

The firm has a market cap of $2.70 billion, a P/E ratio of -50.25 and a beta of 1.32. The firm's fifty day moving average is $2.40 and its two-hundred day moving average is $1.89.

Institutional Investors Weigh In On Denison Mine

A number of large investors have recently modified their holdings of the stock. Cetera Investment Advisers boosted its stake in shares of Denison Mine by 0.6% during the 2nd quarter. Cetera Investment Advisers now owns 954,140 shares of the basic materials company's stock valued at $1,737,000 after purchasing an additional 5,452 shares in the last quarter. Scotia Capital Inc. boosted its stake in shares of Denison Mine by 2.5% during the 2nd quarter. Scotia Capital Inc. now owns 240,107 shares of the basic materials company's stock valued at $437,000 after purchasing an additional 5,818 shares in the last quarter. WealthShield Partners LLC boosted its stake in shares of Denison Mine by 50.0% during the 2nd quarter. WealthShield Partners LLC now owns 18,000 shares of the basic materials company's stock valued at $33,000 after purchasing an additional 6,000 shares in the last quarter. Osaic Holdings Inc. boosted its stake in shares of Denison Mine by 24.2% during the 2nd quarter. Osaic Holdings Inc. now owns 54,647 shares of the basic materials company's stock valued at $99,000 after purchasing an additional 10,637 shares in the last quarter. Finally, HighTower Advisors LLC boosted its holdings in shares of Denison Mine by 13.4% during the 1st quarter. HighTower Advisors LLC now owns 102,180 shares of the basic materials company's stock valued at $133,000 after buying an additional 12,050 shares in the last quarter. Institutional investors own 36.74% of the company's stock.

Denison Mine Company Profile

Denison Mines Corp. engages in the acquisition, exploration, and development of uranium bearing properties in Canada. Its flagship project is the Wheeler River uranium project covering an area of approximately 300,000 hectares located in the Athabasca Basin region in northern Saskatchewan. The company was formerly known as International Uranium Corporation and changed its name to Denison Mines Corp.

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